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well, we begin tonight with the fiscal cliff, justin days from the largest tax hike in american history was no movement toward a fiscal cliff deal more in the action in the house or senate. the responsibility now to avoid massive taxe and draconian spending cuts reting squarely on the prsident. fox news chief white house correspondent ed henry with our report. >> just as our economy is really starting to recover and starting to see optimistic signs and we have seen actually some upside to from a whole range of areas, including two from including housing, now is not the time for more self-inflicted wounds , seven not the estimate from washington. lou: president obama's top advisers were quick to dump on the speaker come -- declaring he is backed into a corner. >> they went from plan b to plan seal later. the fact that they could not even plan -- pass that was an embarrassment. >> in private the president's advisers admit they are bit more apprehensive firmly believing mr. obama has the upper end of the public. if the market takes the hit to the commander-in-chief we will still face his s
well, we begin tonight with the fiscal cliff, justin days from the largest tax hike in american history was no movement toward a fiscal cliff deal more in the action in the house or senate. the responsibility now to avoid massive taxe and draconian spending cuts reting squarely on the prsident. fox news chief white house correspondent ed henry with our report. >> just as our economy is really starting to recover and starting to see optimistic signs and we have seen actually some upside to...
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hikes everyone's calling the fiscal cliff. the white house and top lawmakers are at odds on how to avoid the crisis. on "fox news sunday" two key senators gave their thoughts on where the talks are headed. >> i would hope we would have one last attempt here to do what everyone knows needs to be done, a larger plan that stabilizes the debt and gets us moving the right direction and does it in a way that is cognizant than we have a economy that's recovering and is weak. >> the president is eager to go over the cliff for political purposes. he sees a victory at the bottom. he gets additional tax revenue, he cuts the military which democrats have been calling for and he gets to blame republicans for it. >> joining us now as he does every sunday, chris wallace. good morning, chris. >> good morning, eric. >> we just heard two conflicting views. one senator saying that they hope to have one last meeting. the other saying he thinks president obama wants to go over the fiscal cliff. chris, what do you think's going to happen? >> up til
hikes everyone's calling the fiscal cliff. the white house and top lawmakers are at odds on how to avoid the crisis. on "fox news sunday" two key senators gave their thoughts on where the talks are headed. >> i would hope we would have one last attempt here to do what everyone knows needs to be done, a larger plan that stabilizes the debt and gets us moving the right direction and does it in a way that is cognizant than we have a economy that's recovering and is weak. >>...
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do you think the president wants to go over the fiscal cliff. it is a balanced approach and achieves the tax increases and revenue increases that the president wanted to see and imposes strict devastating cut. 10% across the board at the department of defense which many people have could be used to fund long-term entitlements. >> i don't think the president wants to go over the fiscal cliff but i do think he wants to break house republicans not just on this issue but on several issues down the road and essentially john boehner was right with bran b. we needed to pass that because we need leverage on president obama because president obama is not offering a balanced approach. he is talking about cutting spending but not talking about preserving medicare and social security which is 6 6 to 62 tof the federal budget. they need to use the debt ceiling limit to preserve medicare and social security. i think we will eventually reach an agreement here. >> but doug, i don't believe -- i don't think that is entirely fair. the president put on the table t
do you think the president wants to go over the fiscal cliff. it is a balanced approach and achieves the tax increases and revenue increases that the president wanted to see and imposes strict devastating cut. 10% across the board at the department of defense which many people have could be used to fund long-term entitlements. >> i don't think the president wants to go over the fiscal cliff but i do think he wants to break house republicans not just on this issue but on several issues...
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. >>> so far the fiscal cliff debate in washington has focused largely on taxes, tax rates, how much the wealthiest 1% or 2% americans will see their tax rates go up. tax hikes on the rich alone will not put all that much of a dent in the national deficit. could you take away every dollar from the top 1% of earners and it wouldn't fill the gap. we heard about chained cpi, a suggestion john boehner made for his proposal. i want to bring in christine romans to break this down. >> chained cpi would change the way the federal government calculate inflation. which could possibly save the government $300 billion over the next decade if implemented. normally every year, wages and prices go up. the consumer price index, the cpi measures how much they go up by tracking a basket of goods that americans typically buy. it's important, it's used to calculate cost of living adjustments on social security. checks pay a little more each year in line with inflation, as calculated by the cpi. now one potential flaw in the system, cpi assumes people don't change their basket of the price of meat goes u
. >>> so far the fiscal cliff debate in washington has focused largely on taxes, tax rates, how much the wealthiest 1% or 2% americans will see their tax rates go up. tax hikes on the rich alone will not put all that much of a dent in the national deficit. could you take away every dollar from the top 1% of earners and it wouldn't fill the gap. we heard about chained cpi, a suggestion john boehner made for his proposal. i want to bring in christine romans to break this down. >>...
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leading off tonight, fiscal cliff hanger, president obama calls on congress to act after christmas on a scale-down deal that would spare the middle class from tax hikes on the first of the year. the president met with harry reid and spoke with john boehner. is a grand bargain still possible when everyone is leaving town? >> a week from the shooting massacre that left 20 children and six educators dead, we have heard plenty of people calling for new gun control laws but very little from the national rifle association until now. in a bizarre news conference, the head of the nchl ra said the solution of gun violence in this country is simple, more guns. armed officers in every school. it is the same line we have heard before from the nra. has the country's relationship with guns fundamentally changed since newtown. what we saw last night from house republicans is yet another symptom of a real problem for the gop. they don't believe in compromise. they have lurnlged too far to the right. president obama tapped kerry to be the next secretary of state. let me finish with the great new movie
leading off tonight, fiscal cliff hanger, president obama calls on congress to act after christmas on a scale-down deal that would spare the middle class from tax hikes on the first of the year. the president met with harry reid and spoke with john boehner. is a grand bargain still possible when everyone is leaving town? >> a week from the shooting massacre that left 20 children and six educators dead, we have heard plenty of people calling for new gun control laws but very little from...
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they are talking about getting past where they are in the fiscal cliff. host: we're talking with stephen dinan and the fiscal cliff and what is next. he is the politics editor at the washington times. our next call comes from tennessee. go ahead. caller: misty for taking my call and merry christmas to everyone out there. -- thank you for taking my call and merry christmas to everyone out there. this president over the last four years, every year he has spent $1.2 trillion per year more than we take in. he spent about 4.6 trillion every year. of course he still wants to spend more money. more. what we need is more cuts in programs. we need about 4.6 chilean dollars in cuts to programs. -- $4.6 trillion dollars in cuts to programs. he did not have a hard time getting reelected, but i think we made a mistake electing this guy. guest: the caller has a lot of good numbers. he is correct on a lot of them. the spending numbers are -- and these are rough -- about $2.3 trillion in revenue. his point is correct. the problem is you have the government taking in abou
they are talking about getting past where they are in the fiscal cliff. host: we're talking with stephen dinan and the fiscal cliff and what is next. he is the politics editor at the washington times. our next call comes from tennessee. go ahead. caller: misty for taking my call and merry christmas to everyone out there. -- thank you for taking my call and merry christmas to everyone out there. this president over the last four years, every year he has spent $1.2 trillion per year more than we...
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more on the fiscal cliff negotiations. i am joined by congressman peter king from new york who is involved. congressman, great to have you here. >> great to be here. >> happy holidays. >> happy birthday. >> have i to ask you, what are you doing home when we are approaching the fiscal cliff? >> probably not. once the deal broke on thursday night, the president and the speaker and the majority leader and the senate thought it was best to step back and now try to work out an arrangement. i have no problem being there. >> were you in support the plan b? >> i was. it was not a perfect plan, but considering the alternative, basically what john boehner was saying was no taxes would raise on anyone who had under $1 million. he was setting a million dollar threshold. the president was 250 or 400,000. i thought john boehner's hand was better and would strengthen in the negotiations. i think too many people in the conference were afraid would be seen as voting to increase taxes, but for not voting on the tax on over there for over a
more on the fiscal cliff negotiations. i am joined by congressman peter king from new york who is involved. congressman, great to have you here. >> great to be here. >> happy holidays. >> happy birthday. >> have i to ask you, what are you doing home when we are approaching the fiscal cliff? >> probably not. once the deal broke on thursday night, the president and the speaker and the majority leader and the senate thought it was best to step back and now try to work...
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ahead this morning, the countdown to christmas and the countdown to the so-called fiscal cliff, just two days until santa, and a little over eight days until taxes go up for everyone if they don't resolve this issue. >>> the last victims from the connecticut school shootings are are laid to rest, as the gun control debate heats up in the nation's capitol. a look at a rally to end gun violence. >> and another crucial game for the skins, trying to make it six wins in a row. a preview of the big one in philly today. we break down their playoff chances. >>> good morning. welcome to fox 5 morning news. i've dave ross. >> and i'm wisdom, good to see you! fun to be here on a sunday. >> we'll have a good time talking redskins. >> it is a meaningful game around christmas time. >>> also keeping tabs on the weather, bothn our area and in philly as well. this is a live look outside at the national christmas tree.got your christmas shopping done? >> of course not! >> make sure you move my name up to the top of the list! >>> a look at the national christmas tree near the white house. fox 5's gwen
ahead this morning, the countdown to christmas and the countdown to the so-called fiscal cliff, just two days until santa, and a little over eight days until taxes go up for everyone if they don't resolve this issue. >>> the last victims from the connecticut school shootings are are laid to rest, as the gun control debate heats up in the nation's capitol. a look at a rally to end gun violence. >> and another crucial game for the skins, trying to make it six wins in a row. a...
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. >> we are talking about 80 to million of those impacted by the fiscal cliff firasco and many americans may suffer because of it i think to look at what you are saying, - congress is ashamed to bringing uncertainty to americans who rely on tax returns to put back in the economy. i am sure for a lot of these folks that money is spent to pay off bills and holidays and get breathing room. it is it heart breaking. it is true for work wealthy and americans. we talk about how the market is hating uncertainties. it is not the huggies sold. it is governme. to tracey's point you have potentially 100 million americans and trillions worth of wealth waiting on government to make arbitary decision . we have rational people here trying to pay their taxs and live their lives and how can they plan rationally . trillions of dollars 15 days out. >> good americans willing to pay their fair share and government had their money for a year and they at any point back. we are looking at a potential delay. it is frustrating . they do deserve their money back. it is disgusting to me. i don't think it is it the w
. >> we are talking about 80 to million of those impacted by the fiscal cliff firasco and many americans may suffer because of it i think to look at what you are saying, - congress is ashamed to bringing uncertainty to americans who rely on tax returns to put back in the economy. i am sure for a lot of these folks that money is spent to pay off bills and holidays and get breathing room. it is it heart breaking. it is true for work wealthy and americans. we talk about how the market is...
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>> chris: i'm chris wallace, talks to avert the fiscal cliff stall. washingtonates how to prevent more mass murders. ♪ >> chris: with nine days to go is it possible to make a deal to head off big tax increases, and spending cuts? we'll ask two senate leaders, republican john barrasso, and, democrat, kent conrad. then, as the nation mourns the victims of the newtown school shooting, we turn to a man of faith. for some answers. in these trying times he sees the need for a spiritual awakening. we'll discuss the sandy hook massacre and the meaning of christmas. with pastor rick warren. >>> plus, a change at the state department. as the benghazi report is finally released. we'll ask our sunday panel about the nomination of john kerry to replace hillary clinton. and, where the investigation of a terror attack that killed four americans goes now. and, our power player of the week, continues in holiday tradition, to show respect for veterans. all, right now, on fox news sunday. ♪ >> chris: and hello, again from fox news in washington. at christmas, people
>> chris: i'm chris wallace, talks to avert the fiscal cliff stall. washingtonates how to prevent more mass murders. ♪ >> chris: with nine days to go is it possible to make a deal to head off big tax increases, and spending cuts? we'll ask two senate leaders, republican john barrasso, and, democrat, kent conrad. then, as the nation mourns the victims of the newtown school shooting, we turn to a man of faith. for some answers. in these trying times he sees the need for a spiritual...
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cliff we ring in the new year with big tax increases and spending cuts. here to talk about what is going to happen or two leading senators. john barrasso, chairman of the republican policy committee. and, from new york, democrat kent conrad, chairman of the senate budget committee. senators, welcome back to fox news sunday. >> thanks for having me. >> chris: before heading to hawaii for christmas the president laid out a new, stripped-down plan to avert the fiscal cliff. here's what it is, extend the bush tax cuts for people making less than $250,000. extend unemployment benefits for the 2 million people who will run out, next month. and, delay the sequester of $110 billion, in spending cuts, next year. for all of the talk of $4 trillion in debt reduction the plan would only save $800 billion, over ten years. senator conrad, is that the best that washington can do over the next nine days, and can you pass even that? >> look, chris. it may come to that but we can do better. and we should do better. this is an opportunity to do something that would be hugel
cliff we ring in the new year with big tax increases and spending cuts. here to talk about what is going to happen or two leading senators. john barrasso, chairman of the republican policy committee. and, from new york, democrat kent conrad, chairman of the senate budget committee. senators, welcome back to fox news sunday. >> thanks for having me. >> chris: before heading to hawaii for christmas the president laid out a new, stripped-down plan to avert the fiscal cliff. here's what...
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the fiscal cliff needs to be avoided. the speaker should bring the middle-class tax cut to the floor of the house for a vote. only has to do is let democrats vote and it will pass. the clock is ticking. there is still time for the speaker to avoid that cliff. the senate-passed bill would protect 90% of small businesses while president obama [inaudible] and that agreement should be comprehensive. simply pass the senate bill. the only reason he worked for a day or two so it would not pass. that did not work either. americans are not fooled by the speaker's thani procedural excuses -- phony procedural excuses. let me be very plain. there is nothing preventing the speaker from taking up our bill and giving middle-class families certainty. this is not a game. there will be very serious consequences for millions of families if congress fails to compromise. there will be serious consequences for our country if congress kills to compromise. -- fails to compromise. it is time for the house republicans to remember what is at stake.
the fiscal cliff needs to be avoided. the speaker should bring the middle-class tax cut to the floor of the house for a vote. only has to do is let democrats vote and it will pass. the clock is ticking. there is still time for the speaker to avoid that cliff. the senate-passed bill would protect 90% of small businesses while president obama [inaudible] and that agreement should be comprehensive. simply pass the senate bill. the only reason he worked for a day or two so it would not pass. that...
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a lot of people were worried about higher taxes and the fiscal cliff thing and they are not spending so much. if there is a sign next week we could have a deal, perhaps we will see moreshipping. there is going to be a lot of sales after christmas. >>heather: people get their gift cards. and we see that. that will be an important indication. not all hope is lost but we are cutting back and not as much spending as we hopeed. >> not all hope is lost. >>gregg: i am single-handedly holding up the american economy. one man stimulus. >>heather: you can catch brand da every saturday morning at 10:00 a.m. right here. >>gregg: it legal immigrants could get a free pass in the united states as immigration and customs enforcement unveil a new border patrol policy to bypass certain kinds of offenders. dominic is live in our west coast newsroom with more. >>reporter: yes, this policy snuck through hoping people would not notice and now illegal immigrant if they commit a petty crime they are not deported. the aim of homeland security and customs is to consequence trait resources on hunting down the
a lot of people were worried about higher taxes and the fiscal cliff thing and they are not spending so much. if there is a sign next week we could have a deal, perhaps we will see moreshipping. there is going to be a lot of sales after christmas. >>heather: people get their gift cards. and we see that. that will be an important indication. not all hope is lost but we are cutting back and not as much spending as we hopeed. >> not all hope is lost. >>gregg: i am single-handedly...
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cliff deal. how speaker john boehner is doing damage control on their plan b mess. before heading out for the holidays. even as americans are facing more than $500 billion in tax hikes coming on january 1. with more on this, we have peter barnes, fox business sr. washington correspondent. what did the president have to say moments ago? >> john boehner did say that this wld be a cooling off period. maybe they would have some time to reflect here. the president said that he did speak on the phone to speaker john boehner this afternoon. he also had majority leader harry reid to avoid the fiscal cliff and figure out a passport. he said he is ready and willing to try t to get a compromise package done. all at once or stuff like that. but we'll have to wait until after the holiday. the president planning to hold out for the holidays, and congress is out for the holidays. the president saying that putting pressure began on republicans, house republicans, to least extend tax cuts for the middle class. th
cliff deal. how speaker john boehner is doing damage control on their plan b mess. before heading out for the holidays. even as americans are facing more than $500 billion in tax hikes coming on january 1. with more on this, we have peter barnes, fox business sr. washington correspondent. what did the president have to say moments ago? >> john boehner did say that this wld be a cooling off period. maybe they would have some time to reflect here. the president said that he did speak on the...
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cliff called "tax hikes may not hit paychecks right away." it's about how it's already too late for employers to accurately withhold income taxes from january paychecks. and the reno sunday gazette journal has an article entitled "first person: buying a weapon at the reno gun show." the writer chronicles how he went to a gun show and bought a semiautomatic rifle in less than 30 minutes for under $600. the background check took 15 minutes. one gun seller told the reporter rifles similar to the one used in newtown were expected to double in price in the next 90 days. i just finished reading that article. pretty unbelievable. >>> a democratic president at a time of political upheaval passes a major gun-control act in the wake of several shooting tragedies. that may sound like president obama's plan for the next term, but it actually happened 44 years ago. >> today we begin to disarm the criminals and the careless and the insane. and all of our people who are deeply concerned in this country about law and order should hail this day. and in our de
cliff called "tax hikes may not hit paychecks right away." it's about how it's already too late for employers to accurately withhold income taxes from january paychecks. and the reno sunday gazette journal has an article entitled "first person: buying a weapon at the reno gun show." the writer chronicles how he went to a gun show and bought a semiautomatic rifle in less than 30 minutes for under $600. the background check took 15 minutes. one gun seller told the reporter...
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we did deal with the fiscal cliff issues weeks have passed that. it's harry reid and the president that have yet to come up with something. if it was so easy, if they thought they had a solution to it, why didn't on friday they come to the table and actually pass something? the pressure is on them, what can they pass in the senate? >> harold, you know the politics of this but you also know the markets and how they've been reacting and wall street and corporate america more generally. is there new pessimism that we're, a, not going to get a deal and not solve the issue anyway? >> big disappointment. people outside of washington understand clearly. a couple hundred billion over ten years separating both sides. the question becomes can washington still govern itself? two, there's a realization we're in the middle of a small recovery. if we find ourselves not able to resolve this moment, it retards and slows and undermines what we see ourselves doing going forward. finally, for the life of me as someone who sfrd there, it was so distressful to watch bo
we did deal with the fiscal cliff issues weeks have passed that. it's harry reid and the president that have yet to come up with something. if it was so easy, if they thought they had a solution to it, why didn't on friday they come to the table and actually pass something? the pressure is on them, what can they pass in the senate? >> harold, you know the politics of this but you also know the markets and how they've been reacting and wall street and corporate america more generally. is...
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>> and by that are you saying you think you wanted the president to go over the fiscal cliff? >> harry reid. >> and if so, do the republicans get the blame, and do you think the president wants to go over the fiscal cliff? >> you know, republicans and democrats are going to get the blame for this. everybody is going to get the blame because it's a spending problem that has been decades in the making. when you look at the trajectory of how many has been spent in this country, you can go back 50, 60 years and see the articulation of where those dollars have been spent, see how that spending escalated coming through the '70s, back down a little bit with reagan, but not enough, and then, of course, when you reduce the taxes, you need to be reducing that spending, so the blame, there's -- there is plenty of blame to go around. i am really concerned that come january 1 you're going to see the taxes go up on people. you are going to see the obama care taxes come on to the books, and it's going to be kind of that taxmageddon, if you will, if we do not reach a resolution to these issue
>> and by that are you saying you think you wanted the president to go over the fiscal cliff? >> harry reid. >> and if so, do the republicans get the blame, and do you think the president wants to go over the fiscal cliff? >> you know, republicans and democrats are going to get the blame for this. everybody is going to get the blame because it's a spending problem that has been decades in the making. when you look at the trajectory of how many has been spent in this...
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host: one of our viewer says, how well wall street reacts to the fiscal cliff? we know there will be a deal. well stocks dropped anyway? to follow the market? guest: i do. it is possible the market will reflect displeasure or concern or worry about going over the cliff. it is important for the average american to not focus so much on the day-to-day gyrations of the stock market. you can be sure, politicians will be focused on it. one in this for getting a deal would be if all street has major crops days in a row. that might convince people who might otherwise think they could get a better deal to get a deal done. in that sense, it could be an action-forcing response. in the sense of what is happening in the real economy, i think we would prefer our stock market to be based on be diffict rid of. things like profits, how well companies are doing, the overall state of the economy, and that these day to day changes, whether a deal gets signed on. you're 30 or december 5. i do not think we to be too concerned about the market long term. that changes if we go a few mo
host: one of our viewer says, how well wall street reacts to the fiscal cliff? we know there will be a deal. well stocks dropped anyway? to follow the market? guest: i do. it is possible the market will reflect displeasure or concern or worry about going over the cliff. it is important for the average american to not focus so much on the day-to-day gyrations of the stock market. you can be sure, politicians will be focused on it. one in this for getting a deal would be if all street has major...